This delivery plan outlines the main ways in which Innovate UK will invest around £561 million in helping businesses to innovate and grow in the financial year 2016 to 2017.
The plan explains a number of significant changes to the way we work. These include:
- a new sector focus that is easier for industry, investors and government to work with
- a 5-point plan to underpin activity across these sectors
- making our funding programmes clearer and easier to navigate
- strengthening the way we connect businesses
- increasing our regional presence
Since 2007, Innovate UK has invested £1.8 billion in innovation, which has been more than matched by the private sector. This investment has returned between £11.5 billion and £13.1 billion to the economy. We have supported innovation in 7,600 organisations, creating around 55,000 new jobs.
Source: INNOVATE UK